Originally Posted by MZ DAIZY It’s been probably 40 years since I haven’t had a car payment. I’m kinda leaning toward having an “asset”, but car payments have always been
|
|
LinkBack | Thread Tools | Display Modes |
11-22-2022, 09:49 PM | #16 (permalink) | |
A True Z Fanatic
Join Date: Mar 2011
Location: Austin, TX
Age: 43
Posts: 36,450
Drives: 11 Z34, 98 E36 M3
Rep Power: 2684440 |
Quote:
Regardless, we are rooting for your best outcome. glws...
( Click to show/hide )
__________________
2011 370Z 6MT Sport Gun Metallic | ARC | CJM | Ecutek | FI | Fujimura | R2C | SPL | Stillen | TWM | Z1 | ZSpeed | |
|
11-23-2022, 09:42 AM | #17 (permalink) |
A True Z Fanatic
Join Date: Feb 2018
Location: Atlanta
Posts: 1,845
Drives: Miss Daisy
Rep Power: 613733 |
LOL! Love youse guys, but ya’ll ain’t helping me!
__________________
Stillen Gen 3 CAI, Fast Intentions CBE, Z1 34 Row Oil Cooler, Ecuteck Tuned by Dave at Z1, Clear Bra, Z1 Hood Stuts |
11-23-2022, 10:46 AM | #18 (permalink) | |
A True Z Fanatic
Join Date: Feb 2009
Location: FL
Posts: 4,776
Drives: Baby Shark
Rep Power: 701615 |
Quote:
I hope your better half appreciates your sacrifice. (All I hear in my head is foghorn leghorn lol). |
|
11-23-2022, 10:53 AM | #19 (permalink) |
A True Z Fanatic
Join Date: Oct 2011
Location: Knoxville
Age: 71
Posts: 3,190
Drives: 12 370Z BK Cherry M6
Rep Power: 649540 |
Not suppose to help, just make things difficult.
I must have said 4 times over the past 2 days I am going to sell my Z. But then I see my track pictures on my screen saver and I say that's me and that's my Z
__________________
Lots of Changes the Z needs to be driven and driven hard for the car lives for it |
11-23-2022, 12:28 PM | #20 (permalink) | |
A True Z Fanatic
Join Date: Feb 2018
Location: Atlanta
Posts: 1,845
Drives: Miss Daisy
Rep Power: 613733 |
Quote:
Wasn’t sure anyone else would get the foghorn leghorn shout out!
__________________
Stillen Gen 3 CAI, Fast Intentions CBE, Z1 34 Row Oil Cooler, Ecuteck Tuned by Dave at Z1, Clear Bra, Z1 Hood Stuts |
|
11-23-2022, 12:31 PM | #21 (permalink) |
A True Z Fanatic
Join Date: Feb 2018
Location: Atlanta
Posts: 1,845
Drives: Miss Daisy
Rep Power: 613733 |
This indecision’s killing me - Joe Strummer/Mick Jones
__________________
Stillen Gen 3 CAI, Fast Intentions CBE, Z1 34 Row Oil Cooler, Ecuteck Tuned by Dave at Z1, Clear Bra, Z1 Hood Stuts |
11-27-2022, 09:42 PM | #22 (permalink) | ||
A True Z Fanatic
Join Date: Feb 2015
Location: 813
Posts: 3,915
Drives: 13 Z
Rep Power: 502909 |
Keep the Z!
Quote:
Quote:
Otherwise, new car comes with Nicorette
__________________
Don't like what I post? Too bad. I really don't give a sh!t |
||
12-09-2022, 11:47 AM | #25 (permalink) |
A True Z Fanatic
Join Date: Feb 2018
Location: Atlanta
Posts: 1,845
Drives: Miss Daisy
Rep Power: 613733 |
Ive decided to put this off for now. Ill revisit in he spring.
__________________
Stillen Gen 3 CAI, Fast Intentions CBE, Z1 34 Row Oil Cooler, Ecuteck Tuned by Dave at Z1, Clear Bra, Z1 Hood Stuts |
12-09-2022, 01:11 PM | #26 (permalink) |
A True Z Fanatic
Join Date: Feb 2015
Location: 813
Posts: 3,915
Drives: 13 Z
Rep Power: 502909 |
Honestly bro, I think you made the better financial choice on this. If a dealership offered you $25K, I personally wouldn’t go below this mark, esp. if selling privately. My line of work is basically to sell money and debt, but I also like to keep people informed so they can make informative decisions, so the following is my opinion of course:
As I said before, it really depends on your goals. If you are in a position where you absolutely HAVE to sell, that’s one thing, but if time is not of the essence, my opinion is that it would be better to wait on selling (though the value of your car may or may not be the same at a later time). The GOOD: Though it’s getting better, global supply chain issues is still prevalent and this is what’s keeping prices/values higher, aside from inflation. So you as a seller could still benefit from this. The consumer market has shifted for sure within the past few months, but, due to the supply issues, it still is more of a seller’s market. The BAD: Due to Feds raising the rates, it can be challenging to find qualified buyers for financing. The loan qualification standards itself should remain the same (DTI, etc.), but the amount the borrower qualifies for is the key. Not sure how auto lending works, but in mortgage, for every 1% increase in rate is approx. 10% decrease in buying power. Unless you can find a cash buyer willing to shell out $25K, there is a good chance that you would be playing the waiting game and dropping the price in the process of selling now (and I don’t think you want to drop the price to a point where it’s below what you need/want to net). The UGLY: IMO, it’s a bad time to take on additional debt because it is getting more expensive to borrow (who know what the Feds will do with rates going forward). I also think it’s a bad time to be selling because of the limited pool of qualified buyers available due to elevated rates. So while not selling now could possibly prevent you from having to keep dropping price and net below what you need/want, waiting to sell later can also have its drawbacks because there is no telling how car values may fluctuate (real estate and cars are two completely different forms of investments – asset vs liability). Some people think the economy is currently in a recession (and by definition, we may be), however, the Feds generally never raise rates during a recession (in fact, they would reduce rates via quantitative easing to encourage borrowed spending to stimulate the economy). With recession fears looming, people will start being more conscious of their spending habits (commodity vs necessity). Many economists are projecting that a recession should be coming sometime in 2023, and if this happens, this is when rates should start dropping, which then would equate to more buyers.
__________________
Don't like what I post? Too bad. I really don't give a sh!t |
12-23-2022, 08:45 AM | #27 (permalink) | |
A True Z Fanatic
Join Date: Feb 2009
Location: FL
Posts: 4,776
Drives: Baby Shark
Rep Power: 701615 |
Quote:
I loved all those cartoons as a kid. I guess we’re getting old |
|
Bookmarks |
|
|
Similar Threads | ||||
Thread | Thread Starter | Forum | Replies | Last Post |
FORGESTAR F10D 19X9.5 19X11, 1 set SALE SALE SALE | GetYourWheels | Tires/Wheels | 8 | 07-13-2021 03:32 PM |
My 23yo co worker asked to take MZ DAIZY for a ride today... | MZ DAIZY | The Lounge (Off Topic) | 21 | 09-12-2020 04:17 PM |
You’re Welcome MZ Daizy | vtec to vvel | The Lounge (Off Topic) | 3 | 06-20-2019 10:36 PM |
Daizy got new shoes today... | MZ DAIZY | Wheels & Tires | 2 | 05-18-2019 03:14 PM |
New member: Daizy | dayZ | New Forum Member | 20 | 02-26-2014 11:04 PM |